India, Dec. 17 -- Nitin Jain, cofounder and chief business officer (CBO) of IPO-bound OfBusiness, has stepped down from his position.

In a LinkedIn post, Jain said he was "moving on" from OfBusiness and its fintech arm Oxyzo, which is an independent unicorn.

While he did not disclose the reason behind the move, he said, "Something big is upcoming." Responding to a comment from a user to work on manufacturing in his next stint, Jain said that his next move would be "around these lines".

Jain cofounded OfBusiness in 2016, along with Asish Mohapatra, Ruchi Kalra, Vasant Sridhar, Bhuvan Gupta. It provides raw material procurement and financing solutions to SMEs operating in manufacturing and infrastructure across sectors through its ecomme...